What is the test for calculating damages in an action framed on conspiracy to defraud and deceive?

The first principles the court must observe are well known, and in a modern expression are set forth in Denison v. Fawcett, supra, an action framed on conspiracy to defraud and deceive, where at p. 544, Schroeder J.A. said, adopting the principle stated in Sedgwick on Damages, 9th ed., para. 387: “If you find as a fact that the defendants acted wantonly and oppressively without any reasonable ground for a belief that they had the right to do as they did, you will be at liberty to increase the damages beyond the actual loss which plaintiff has suffered by adding thereto such further sum as you think proper by way of exemplary damages …”